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The Illinois Central constructed the railroad for this company, amounting to 1.771 miles, consisting of a single-track, standard-gage, steam railroad, extending from Fredonia to Reeds Junction, Ill. Upon completion of the road, on January 9, 1915, the Illinois Central took it over for operation under a lease agreement for a period of 20 years.
In early 1991, the Illinois Railway Museum reached an agreement with Erman-Howell to trade five Ex-Northwestern Steel and Wire 0-8-0 switchers (Nos. 8306, 8328, 8372, 8375, and 8379) in exchange for No. 4963.
Lease indefinite from November 10, 1901; rent $34.75 per month plus one half of 5 percent on improvements and operation and maintenance on ticket-sales basis. 1,382.10 Track, Tara to Fort Dodge, Iowa, 6.95 miles main and 0.81 mile side tracks. Lease, year to year from December 31, 1904; rent rate per train includes maintenance and operation ...
As may be the case with other contracts, real estate contracts may be formed by one party making an offer and another party accepting the offer. To be enforceable, the offers and acceptances must be in writing (Statute of Frauds, Common Law)and signed by the parties agreeing to the contract.
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